Some problems are better left behind us, but when it comes to business, one has to search for problems and to put them in front of his/her eyes!⠀
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In fact, in business, “every problem is an opportunity in disguise” (John Adams). To start a successful business, you need to focus on the problem you want to solve; not the solution, end product, or service you want to offer. The problem you will need to resolve is the need or gap in the market. This is the first pillar of launching a new business.⠀
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From there, you should get to think about: ⠀
. What is the problem will I solve? ⠀
. Is it a real problem/need/gap for other people around me, in my social or geographical area? ⠀
. Can this problem be even considered as a local, regional or global issue? ⠀
. Is it worth addressing and solving through a business? ⠀
. Will it be profitable? ⠀
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Do not answer these questions by yourself only. Try to ask your prospect customers, that is, possible future clients too. Expand your circle, ask people beyond your own circle of family and friends.⠀
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As you formulate your business idea through the problem you intend to solve, focus on long-term projections, do not only think of 2020 and Covid-19 pandemic. This does not mean you should ignore the market’s insights and updates. For instance, these days, "the pandemic has changed consumer preferences - it’s all about health and comfort now,” Gulnaz Khusainova in Forbes. This trend is probably here to stay and one should not ignore it. For this, listen carefully to market trends and needs and try come up with a formula that is sustainable now and post Covid-19.⠀
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Got a new problem in mind? Let’s work on it together! Email me on daoudiala@gmail.com for free startup mentorship ✨
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